How it works
A simple path, with no pressure.
Here is what working with The Life Rock looks like, followed by plain answers to common questions.
1. Talk
A free call to listen to your goals and answer your questions.
2. Review
If it looks like a fit, we review options and illustrations together. We explain what is guaranteed and what is not.
3. Decide
You take the time you need. Applications are subject to the insurer's underwriting and approval.
4. Stay in touch
We review your policy with you as life changes. [TO CONFIRM: confirm service promises]
Frequently asked questions
What is the Infinite Banking Concept?
It is a strategy, described by Nelson Nash, of using the cash value of a specially designed whole life policy as a source of funds you can borrow against, then repaying the loan with interest. It is a way of using an insurance policy. The policy is not a bank account, and it is not an investment.
What is the Bank On Yourself method?
A planning approach that uses dividend-paying whole life insurance as the base of a financial plan. The Life Rock owner is a Bank On Yourself® Professional. Bank On Yourself is a separate organization. [TO CONFIRM: confirm approved description and trademark language]
What is whole life insurance?
Permanent life insurance designed to last for your lifetime as long as required premiums are paid. It pays a death benefit and builds cash value over time. The premium and certain values are guaranteed by the contract, while dividends, if any, are not guaranteed.
Are dividends guaranteed?
No. Dividends depend on the insurer's experience and are set by the company each year. A policy illustration that shows dividends is a projection, not a promise or a guarantee of future results.
How do policy loans work?
You can borrow against the cash value of the policy, using the policy as collateral. You choose whether and when to repay, but interest is charged. Unpaid loans and interest reduce the cash value and the death benefit, and a policy can lapse if loans grow too large. Lapse can have tax consequences.
Are there tax advantages?
Life insurance has tax advantages under current law, such as generally income-tax-free death benefits and tax-deferred cash value growth. These benefits depend on the policy staying in force and not becoming a modified endowment contract (MEC), and tax laws can change. Please talk with a qualified tax professional about your situation. [TO CONFIRM: tax wording reviewed]
How long does it take to build cash value?
Usually years. Early on, a large share of premiums pays for insurance costs and policy expenses, and cash value is typically lower than the premiums paid in the early years. Whole life is a long-term commitment, and surrendering early can cost you.
Is whole life better than term?
Neither is better for everyone. Term can be a good fit for a specific period and a tight budget. Whole life suits permanent needs and long-term planning. Many people use both. We will help you compare for your situation.
How much life insurance do I need?
It depends on your income, debts, dependents and goals. A needs analysis is the usual approach. We can walk through one with you on a free call.
How much does it cost?
The cost depends on the type of coverage, your age, your health and the options you choose. We do not quote prices on this site. [TO CONFIRM: confirm no sample rates are shown]
Who is this for, and where do you work?
We are licensed in multiple states. Tell us where you live when you book a call and we will confirm we can help you. [TO CONFIRM: states intentionally not listed]
FAQ answers are drafted to the compliance guide. They are not approved copy. [TO CONFIRM: review each answer]